Microvast (NASDAQ:MVST) Sees Large Volume Increase – Here’s What Happened

Microvast Holdings, Inc. (NASDAQ:MVST) saw unusually-high trading volume on Friday . Approximately 12,239,129 shares changed hands during trading, an increase of 23% from the previous session’s volume of 9,968,985 shares.The stock last traded at $1.62 and had previously closed at $1.50.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Microvast in a report on Monday, November 18th.

Microvast Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. The stock’s 50-day moving average is $0.63 and its two-hundred day moving average is $0.44. The stock has a market cap of $475.94 million, a PE ratio of -3.87 and a beta of 2.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Microvast in the 2nd quarter valued at $264,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Microvast in the 2nd quarter valued at about $141,000. Renaissance Technologies LLC purchased a new stake in Microvast during the second quarter worth about $90,000. XTX Topco Ltd acquired a new stake in shares of Microvast during the second quarter worth about $80,000. Finally, AQR Capital Management LLC boosted its stake in shares of Microvast by 569.1% in the second quarter. AQR Capital Management LLC now owns 109,139 shares of the company’s stock valued at $50,000 after purchasing an additional 92,828 shares during the period. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

About Microvast

Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2. It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator.